20.08.2019

AHRF will sell the rights (claims) on loans to the Terra Nova at the auction In the pledged – land plots on the alluvium of Vasilievsky Island in St. Petersburg

The Auction House of the Russian Federation (AHRF) has announced the procedure for requesting bids for the sale of 100% of shares of DISERION LTD, owned by COLLATERAL MANAGEMANT LIMITED LLC, and the rights of claim on Sberbank loans to Terra Nova JSC.
The loans are secured by 51 land plots with a total area of 237.7 hectares for residential and commercial development on the alluvium of Vasilievsky Island in St. Petersburg. Of these, the company owns 6 plots with a total area of 20.3 hectares, the rest is leased (until 08.06.2026) under an agreement with the Property Relationship Committee of St. Petersburg.
Plots of varying degrees of preparedness: about a third of the territory is 100% ready, another third of the territory is at the zero stage (not washed up), the readiness of the rest of the territory varies from 10 to 45%.
Currently, the total debt of Terra Nova LLC on loans exceeds 4.5 billion rub.

Bidding will be held in the form of request for proposals on the electronic trading platform ETP AHRF.
Date of summing up the results - November 1.
The initial price of the lot - 4.5 billion rub.

«Alluvium is one of the largest projects in St. Petersburg in recent years. Due to the lack of land for residential development on Vasilievsky Island and, in general, in the city, land plots on the alluvium are in demand among developers. Undoubtedly, the appearance on the market of claims on loans with such security will cause a high interest among large investors», - said Olga Zheludkova, head of the department for work with pledged and non-core assets of banks.

Information:
In December 2018, the Auction House of the Russian Federation held an auction on behalf of Terra Nova JSC for the sale of 5.8 hectares of land on the alluvium of Vasilevsky Island. Lot was acquired by SEVEN SUNS DEVELOPMENT SPB North-West LLC for 1.5 billion rub.